Project Proposal (Essay Sample)

Management Consulting - The project proposal and the project log - (506-cs5)
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Management Consulting - The project proposal and the project log - (506-cs5)
Cost cutting
Cost is one of the key elements in each business. It takes on a new significance in the profitability and therefore, it cannot be overlooked in any business. Prices, margins and volumes mount pressure-forcing leaders to have a renewed consideration to their cost management strategies. With low cost outsourcing and widespread, it leads to intense concerns about cost (Armstrong, 2009).
Designs
Design varies due to the dynamic range of eating and entertainment cultures we have globally. Design also dictates the range of quality products, premium prices that attract attention and profits.
Prices and profits
For a company to reach full potential and make profit, it requires more than just current cost and may require involvement of scientists, operations specialists, marketing experts and designers as well as accountants (Charles & Jones, 2009).
Competition and over capacity
How will you control overcapacity?
The Wedgwood company just like any other company faces competition from its’ competitors. In the past, the company has had a good run and would need more innovation than before in order to retain its glory. It is a demanding task but achievable. It would need technical innovation or management (Finkler, 2005).
Market control
How do you intend to control the market?
Companies need to change their strategies so that they are able to compete effectively based on its products. If a company is unable to do this effectively and cleverly the costs rise and the company loses control of the market. Change in strategy to be effective, it should go hand in hand with the cost structure.
Cost management
How effective is cost to the business?
Response: a company might slip into crisis if it is not well prepared to tackle cost control. Every company/business should monitor and consider cost management strategies because retailers and distributors demand an ever-greater share of margins (Hill & Jones, 2007).
Contextual understanding
How do you intend to improve your products?
Every company should have good understanding on their products. Incorporation of technology due to the largely growing food and entertainment industry is a key step the company is working on. The diverse range in ceramics and deco is also a field we are considering to venture.
Production technologies
Cost
Cost is a major thresh hold for a business to become successful. Every business should monitor and consider cost management strategies. As control on cost starts slipping away, retailers and distributors demand an ever-greater share of margins and if not ill prepared, a company can slip into crisis (Finkler, 2005).
Design
Design should come as a product of major investment in marketing and research. Managers tend to be inward looking yet ideas can also come from outside. It is vital to benchmark against competitors and study development in the wider economy as well as acquire and welcome imaginative ideas that challenge the status quo (Armstrong, 2009).
Market control
Cost management should not be an isolated exercise. It should sit alongside the disciplines of value creation and revenue management. Reducing cost requires gems of innovati...